REG - Beacon Energy PLC - Award of Share Options, Director/PDMR Shareholding

Beacon EnergyAnnouncement

23/10/2023 07:15

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RNS Number : 8830Q  Beacon Energy PLC  23 October 2023

23 October 2023

Beacon Energy plc

("Beacon Energy" or the "Company")

 

Award of Share Options

Director / PDMR Shareholding

 

Beacon Energy plc (AIM:BCE), the full-cycle oil and gas company with a
portfolio of onshore German assets, announces that it has granted options
over, in aggregate, 503,565,644 ordinary shares of nil pence each in the
capital of the Company ("Ordinary Shares") to its directors and employees (the
"Options"). The Options are exercisable at a price of 0.15 pence per Ordinary
Share, being the Issue Price at the Company's recent Fundraise as announced on
15 September 2023.

 

In addition, the Company has reached agreement with certain Directors to
cancel 33,360,000 "out of the money" options for no consideration.

 

Issue of Options to Directors

The following Options have been granted to Company's Directors:

 Name               Position                 Number of New Options Granted  Exercise Price Per Ordinary Share (pence)  Total Options Held Following This Grant

 Mark Rollins       Chairman                 37,566,588                     0.15                                            155,335,064
 Larry Bottomley    Chief Executive Officer  100,177,569                    0.15                                            492,829,705
 Stewart MacDonald  Chief Financial Officer  91,661,457                     0.15                                            269,622,711
 Stephen Whyte      Non-Executive Director   18,783,294                     0.15                                              74,863,520
 Ross Warner        Non-Executive Director   18,783,294                     0.15                                              74,863,520

 

 

The  Options set out in the table above vest in two equal tranches, being six
months and one year from the date of grant, and are exercisable for up to five
years from their date of grant.

 

Issue of Options to Senior Management and Employees

A further 236,593,442 Options have been granted to certain other members of
senior management and employees at the same exercise price of 0.15 pence per
Ordinary Share, on the same terms as those set out above.

 

 

Related Party Transaction

The Option awards to directors represent a related party transaction under the
AIM Rules for Companies. The director who is independent of the transaction,
being Leo Koot, having consulted with the Company's nominated adviser, Strand
Hanson, considers that the terms of the Option award are fair and reasonable
insofar as shareholders are concerned.

 

Enquiries:

 

 Beacon Energy plc                                        +44 (0)20 7466 5000

 Larry Bottomley (CEO) / Stewart MacDonald (CFO)

 Strand Hanson Limited (Financial and Nominated Adviser)  +44 (0)20 7409 3494

 Rory Murphy / James Bellman

 Buchanan (Public Relations)                              +44 (0)20 7466 5000

 Ben Romney / Barry Archer / George Pope

 Tennyson Securities Limited (Broker)                     +44 (0)20 7186 9030

 Peter Krens / Ed Haig-Thomas

 

 

PDMR Disclosure Form

 

 1.    Details of the person discharging managerial responsibilities / person closely
       associated
 a.    Names                                                                       1.    Mark Rollins

                                                                                   2.    Larry Bottomley

                                                                                   3.    Stewart MacDonald

                                                                                   4.    Stephen Whyte

                                                                                   5.    Ross Warner

 2.    Reason for the notification
 a.    Position/status                                                             6.    Chairman

                                                                                   7.    CEO

                                                                                   8.    CFO

                                                                                   9.    NED

                                                                                   10.  NED

 b.    Initial notification/Amendment                                              Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a.    Name                                                                        Beacon Energy plc
 b.    LEI                                                                         213800TZWOYU7UFZ5V63
 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a.    Description of the Financial instrument, type of instrument Identification  Ordinary Shares of no par value
       code

                                                                                   M00BKSCP798

 b.    Nature of the transaction                                                   Option Awards
 c.    Price(s) and volume(s)

Price/share       Volume (s)
                                                                                   No consideration  37,566,588
                                                                                   No consideration  100,177,569
                                                                                   No consideration  91,661,457
                                                                                   No consideration  18,783,294
                                                                                   No consideration  18,783,294
 d.    Aggregated information

       -  Aggregated volume                                                        N/A

       -  Price
 e.    Date of the transactions                                                    23 October 2023
 f.    Place of the transactions                                                   AIM, London Stock Exchange

d.

Aggregated information

-  Aggregated volume

-  Price

 

N/A

e.

Date of the transactions

23 October 2023

f.

Place of the transactions

AIM, London Stock Exchange

 

 

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